Fracking Market Manipulators
So, what does this look like to you? Apple comes out with two hit devices within a few months. Apple posts record profits and sales. Throngs line up to buy new Apple products. Analysts–again–hike up Apple’s stock price target, this time to $375, a full $100 above current value. Apple has never been stronger, and is just getting stronger and stronger still.
So what have we seen the past few days? Apple’s stock taking steep, sudden, unexplained dives. Most notably right this moment, having fallen about $7 or nearly 2.5% in less than half an hour.
Can anyone say “stock price manipulation”? Nothing but criminally dishonest traders beating down the price of an undervalued stock, knowing that it will inevitably get back up again and gain them tons of profits by betting against it and then for it.
Where the hell is the SEC when crap like this is going on? Or is this completely legal and/or just overlooked?
People taking profits perhaps? Anyway, buy on the rumors and sell on the news, as they say.
Life under the rule of banksters and corporatocritist.
I dunno… I believe there’s a ton of manipulation going on in the markets, but I also think that in this particular case it might just be random noise.
The scale of the chart you’re using gives a VERY skewed picture, because the range of prices doesn’t match the visual appearance of the chart.
There’s 6 horizontal bars on that chart. At the beginning of the chart, the price is up at the very top- 5/6th of the possible vertical range of prices.
A quarter of the way into the timeline, the price has fallen to 1/6 of the overall vertical scale.
Visually, it looks like the stock lost 4/6ths of its value, or 67%.
But how much of a change did it really lose? The actual price went from 278 to 270. That’s 8/278ths of its value- about 3%.
So did the stock really take massive drops? Well, 3% seems like a lot if a stock only loses/gains 30 percent in a year. But it’s nothing like what the chart SEEMS to show, either.
Well, yes, I get your point– it’s not much relative to the whole stock value–but they are significant drops in very short periods of time when the stock should instead be rocketing upwards. 3% may not seem like much, but if you own 300 shares, and the stock value is $270, then you’ve just shed $2400 when you should have gained that much. If, as I suspect, it’s because speculators see Apple as being a strong stock and they know it will recover, so they start panic selling specifically to yank down the price so they can buy up at the lowest price before it inevitably surges… well, if that’s what in fact is happening, I don’t think it’s something one shouldn’t grouse about.
Considering that subsequent market events have caused Apple to stay level at 270, when by all rights it should be up well over 280 by now, and it might not gain that value to the same degree it would have… I guess it hits me harder because right now I am looking at cashing in maybe half of my shares for tax purposes, and just when I should be able to sell at a high point, these scumbuckets (I believe) are pulling me down so they can manipulate prices to enrich themselves.
Hi,
I have just discovered your blog through searching for birding sites in Japan.
Your assumption on the Apple share price is that the company is overvalued and this is based on analysts numbers. Most analysts are on the buy side of stocks, you don’t earn much from telling your customers to get out of stocks. The same analysts have had a 600 dollar target price on google which is looking a bit off at the moment.
Everytime there is data suggesting a slowdown in consumer spending then the higher beta consumer stocks will be hit.
Apple have had such a good run there are bound to be some people sitting on decent profits and won’t want to risk another big drop in the markets and will take profits.
I happen to think Apple may be overpriced.
Enjoy your blog by the way
Pete